In Tarboro, North Carolina, "power of attorney" refers to a variety of different legal arrangements. However, the different systems which fall under the umbrella of that term have one thing in common: if somebody grants power of attorney to somebody else, the person with power of attorney is authorized to make certain decisions on behalf of the person who granted it. There are many reasons why a person might want to grant this power to another, but it often granted in contemplation of the possibility that the grantor might become unable to express his or her wishes due to some form of incapacity.
The principal in a power-of-attorney arrangement is the one who determines the scope of the power that the attorney will be able to wield, and the circumstances under which they can wield it. Generally, you can grant the attorney-in-fact as much or as little decision-making power as you'd like. In every case, however, you should only enter a power-of-attorney arrangement with somebody you trust. The nature of the power you should grant depends heavily on the context, and what your wishes are.
For example, if you have very specific wishes concerning end-of-life care, you should, of course, make them clear to the person who will be acting on your behalf, and make sure they are prepared to carry them out. You should then grant them power of attorney, with the scope limited to certain healthcare and financial decisions. That way, if you become incapacitated, your loved one will be able to carry out your wishes, even if you are unable to express them.
In Tarboro, North Carolina, you can find pre-printed power-of-attorney forms in many office supply stores. If the agreement you want to create isn't very complex, these could be a viable and very affordable option. Of course, it never hurts to have a lawyer help.
Types of Power of Attorney Arrangements in Tarboro, North Carolina
Power of attorney in Tarboro, North Carolina takes 3 main forms. Which one is appropriate for you depends on your individual situation. They are:
1. Limited power of attorney - this is probably the most limited type of power of attorney. It lets someone act on your behalf in a single instance. It is used most often in large sales transactions involving a written contract. If the closing of the deal is set to take place far away from where one of the parties is located, they can give limited power of attorney to someone who is closer. All you have to do is give that person the authority to act on your behalf in this one transaction. This authority automatically expires once the deal is finished.
2. Durable power of attorney - this lets an attorney-in-fact make decisions in a particular, specified area of the principal's affairs. Durable power of attorney doesn't automatically disappear, and can last indefinitely, or until the principal revokes it. This can be very useful, because it allows the attorney-in-fact to make important decisions for the principal, but allows the principal to revoke the power if they regain the capacity to make their own decisions.
3. Springing power of attorney - this is similar to durable power of attorney, but the power is conditional. That is, it does not take effect unless some specific event takes place. This event can be anything. Most often, however, the agreement allows the attorney-in-fact to make important medical and financial decisions for the principal, only in the event that the principal becomes incapacitated. However, there are sometimes disagreements over whether or not a person is actually "incapacitated" to the point that the power of attorney has been triggered. This can lead to a court of law having to decide the issue.
Can a Tarboro, North Carolina Lawyer Help?
Because setting up a power of attorney agreement is not always easy in Tarboro, North Carolina, it's never imprudent to at least consult with a lawyer beforehand. As with any legal agreement, there are things that can go wrong, which laypersons may not foresee.